HashiCorp, Inc. (NASDAQ:HCP) Given Average Rating of “Hold” by Analysts

HashiCorp, Inc. (NASDAQ:HCP) has received a consensus recommendation of “Hold” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $32.08.

HCP has been the subject of several analyst reports. StockNews.com initiated coverage on shares of HashiCorp in a report on Friday. They set a “hold” rating for the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Piper Sandler restated a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company.

HashiCorp Stock Performance

HashiCorp stock opened at $33.74 on Friday. The company has a market capitalization of $6.78 billion, a PE ratio of -35.15 and a beta of 1.25. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The firm has a 50 day moving average price of $33.85 and a 200 day moving average price of $32.69.

HashiCorp (NASDAQ:HCP) last announced its earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The company had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. HashiCorp’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business posted ($0.34) EPS. As a group, equities research analysts forecast that HashiCorp will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Ledger Susan St. sold 22,232 shares of HashiCorp stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $752,330.88. Following the completion of the sale, the insider now owns 167,747 shares in the company, valued at $5,676,558.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $33.84, for a total value of $1,214,991.36. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,436,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ledger Susan St. sold 22,232 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $752,330.88. Following the sale, the insider now owns 167,747 shares of the company’s stock, valued at $5,676,558.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 390,125 shares of company stock worth $13,178,494 in the last three months. 22.49% of the stock is owned by corporate insiders.

Institutional Trading of HashiCorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Capital Advisory LLC bought a new stake in HashiCorp during the second quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in HashiCorp during the third quarter valued at about $51,000. Advisors Asset Management Inc. grew its stake in shares of HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd boosted its holdings in HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after acquiring an additional 3,480 shares during the period. Finally, Quest Partners LLC increased its holdings in HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after purchasing an additional 3,505 shares during the period. 87.83% of the stock is currently owned by institutional investors.

HashiCorp Company Profile

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.